Mahfuzur Rahman, Solaiman Chowdhury, Mohammad Shorfuzzaman, Mohammad Kamal Hossain ¡ 5 authors
The advancement of mircogrids and the adoption of blockchain technology in the energy-trading sector can build a robust and sustainable energy infrastructure. The decentralization and transparency of blockchain technology have several advantages for data management, security, and trust. In particular, the uses of smart contracts can provide automated transaction in energy trading. Individual entities (household, industries, institutes, etc.) have shown increasing interest in producing power from potential renewable energy sources for their own usage and also in distributing this power to the energy market if possible. The key success in energy trading significantly depends on understanding oneâs own energy demand and production capability. For example, the production from a solar panel is highly correlated with the weather condition, and an efficient machine learning model can characterize the relationship to estimate the production at any time. In this article, we propose an architecture for energy trading that uses smart contracts in conjunction with an efficient machine learning algorithm to determine participantsâ appropriate energy productions and streamline the auction process. We conducted an analysis on various machine learning models to identify the best suited model to be used with the smart contract in energy trading.
With the widespread adoption of Renewable Energy Sources (RESs) in low-voltage distribution systems, opportunities for energy trading among peers have emerged. In particular, the advent of distributed ledgers and blockchain technologies has catalyzed the application of Peer-to-Peer (P2P) economic concepts in decentralized, small-scale energy trading. This paper focuses on the critical physical layer aspects of transactions within the context of P2P energy trading, with a specific emphasis on addressing network constraints. Key challenges include maintaining margins for over/under voltage, voltage balance, and preventing congestion, all of which must be upheld during P2P energy exchanges. To address these challenges, we propose a novel analytical approach tailored to distribution networks. Furthermore, we introduce the Block Double Auction (BDA) mechanism as the P2P market mechanism for determining the acceptance or rejection of P2P transactions. The effectiveness of our proposed method is validated using the IEEE 33-node distribution test system, demonstrating its robust capabilities.
Pengfei Zhao, Shuangqi Li, Zhidong Cao, Paul JenâHwa Hu ¡ 9 authors
Decentralized trading schemes involving energy prosumers have prevailed in recent years. Such schemes provide a pathway for increased energy efficiency and can be enhanced by the use of blockchain technology to address security concerns in decentralized trading. To improve transaction security and privacy protection while ensuring desirable social governance, this article proposes a novel two-stage blockchain-based operation and trading mechanism to enhance energy hubs connected with integrated energy systems (IESs). This mechanism includes multienergy aggregators (MAGs) that use a consortium blockchain and its enabled proof-of-work (PoW) to transfer and audit transaction records, with social governance principles for guiding prosumersâ decision-making in the peer-to-peer (P2P) transaction management process. The uncertain nature of renewable generation and load demand are adequately modeled in the two-stage Wasserstein-based distributionally robust optimization (DRO). The practicality of the proposed mechanism is illustrated by several case studies that jointly show its ability to handle an increased renewable generation capacity, achieve a 16.7% saving in the audit cost, and facilitate 2.4% more P2P interactions. Overall, the proposed two-stage blockchain-based trading mechanism provides a practical trading scheme and can reduce redundant trading amounts by 6.5%, leading to a further reduction of the overall operation cost. Compared to the state-of-the-art benchmark methods, our mechanism exhibits significant operation cost reduction and ensures social governance and transaction security for IES and energy hubs.
Felipe Condon, Patricia Franco, JosĂŠ Manuel MartĂnez, Ali M. Eltamaly ¡ 6 authors
The widespread adoption of distributed energy resources (DERs) and the progress made in internet of things (IoT) and cloud computing technologies have enabled and facilitated the development of various smart grid applications and services. This study aims to develop and implement a peer-to-peer (P2P) energy trading platform that allows local energy trading between consumers and prosumers within a microgrid which combines IoT and blockchain technologies. The proposed platform comprises an IoT-cloud home energy management system (HEMS) responsible for gathering and storing energy consumption data and incorporates a blockchain framework that ensures secure and transparent energy trading. The proposed IoTâblockchain architecture utilizes a Chainlink oracle network and a private Ethereum blockchain. Through the use of smart contracts, consumers and prosumers can participate in an open auction to trade energy, while the settlement process involves acquiring external energy data from an API through the oracle network. The performance of the platform is evaluated through a testbed scenario using real-world energy data from a real house in Valparaiso, Chile, while storing those measurements in AWS cloud, validating the feasibility of the proposed architecture in enabling local energy trading. This work contributes to the development of energy management systems by providing a real-world implementation of an IoTâblockchain architecture for local energy trading. The integration of these technologies will allow for a more efficient and secure energy trading system that can benefit prosumers, consumers, and utilities.
Liaqat Ali, M. Imran Azim, Nabin B. Ojha, Jan Peters ¡ 9 authors
The electricity market has increasingly played a significant role in ensuring the smooth operation of the power grid. The latest incarnation of the electricity market follows a bottom-up paradigm, rather than a top-down one, and aims to provide flexibility services to the power grid. The blockchain-based local energy market (LEM) is one such bottom-up market paradigm. It essentially enables consumers and prosumers (those who can generate power locally) within a defined power network topology to trade renewable energy amongst each other in a peer-to-peer (P2P) fashion using blockchain technology. This paper presents the development of such a P2P trading-facilitated LEM and the analysis of the proposed blockchain-based LEM by means of a case study using actual German residential customer data. The performance of the proposed LEM is also compared with that of BAU, in which power is traded via time-of-use (ToU) and feed-in-tariff (FiT) rates. The comparative results demonstrate: (1) the participantsâ bill savings; (2) mitigation of the power gridâs export and import; (3) no/minimal variations in the margins of energy suppliers and system operators; and (4) cost comparison of Ethereum versus Polygon blockchain, thus emphasising the domineering performance of the developed P2P trading-based LEM mechanism.
Abstract In a networked microgrid system (NMS), various heterogeneous microgrids are interconnected. A networked microgrid system facilitates a new kind of physical design that provides numerous advantages such as distributed economic optimization, reliability, resiliency, and focusing on distributed generations and customers. Designing the secure and privacyâprotected smart power contract between electricity suppliers and consumers, considered as agents, of different microgrids, is a challenging task in the networkedâ microgrid system. Each microgrid implements a heterogeneous or isomorphic blockchain based platform. The blockchain interoperability, inherently, presents in different blockchains implemented by various microgrids. This paper reviews the interoperability issues and smart contract designs in blockchainâbased systems and proposes new mechanisms to cater blockchain interoperability challenges to facilitate the design of secure and seamless smart contracts among different blockchains of microgrids. A network hub of heterogeneous blockchains of network microgrids has been proposed. A methodology has been developed to transfer tokens between interoperable blockchains. A distributed identityâbased microgrid (DIBM) scheme is incorporated to make the networked microgrid system secure and trustworthy. This paper suggests an effective consensus protocol for crossâchain architecture that improves the tokenization system and smart power contract designs. Asynchronous blockchain based federated learning for peerâtoâpeer smart power exchange has been implemented in learning process of interoperable and heterogeneous blockchain based network hub of microgrid. For simulation purposes, MATLAB and python programming have been used with realâtime data of microgrids.
Energy demand is increasing rapidly due to rapid growth and industrialization. It is becoming more and more complex to manage generation and distribution due to the diversification of energy sources to minimize carbon emissions. Smart grids manage reliable power generation and distribution efficiently and cater to a large geographical area and population, but their centralized structure makes them vulnerable. Cybersecurity threats have become a significant concern with these systemsâ increasing complexity and connectivity. Further transmission losses and its vulnerability to the single point of failure (SPOF) are also major concerns. Microgrids are becoming an alternative to large, centralized smart grids that can be managed locally with fewer user bases and are safe from SPOF. Microgrids cater to small geographical areas and populations that can be easily managed at the local level and utilized for different sources of energy, like renewable energy. A small group of consumers and producers are involved, but microgrids can also be connected with smart grids if required to exchange the excess energy. Still, these are also vulnerable to cybersecurity threats, as in the case of smart grids, and lack trust due to their decentralized nature without any trusted third party. Blockchain (BC) technology can address the trust and cybersecurity challenges in the energy sector. This article proposes a framework for implementing a BC-based microgrid system for managing all the aspects of a microgrid system, including peer-to-peer (P2P) energy trading, Renewable Energy Certificate (REC), and decentralized energy trading, that can be utilized in the case of Saudi Arabia. It can integrate cybersecurity standards and protocols, as well as the utilization of smart contracts, for more secure and reliable energy generation and distribution with transparency.
Iacopo Savelli, Hanumantha Rao Bokkisam, Paul Cuffe, Thomas Morstyn
The large deployment of renewable generation required to reach net-zero carbon emission requires significant investments in transmission network infrastructure to reduce grid congestion, as well as costly investments in dispatchable assets to manage the intermittency of renewable energy. The provision of flexibility services to system operators represents an additional method that could help solve these issues. However, this requires the engagement of a large number of small users, such as households and small commercial firms, that usually cannot directly participate in electricity markets due to their limited size. Blockchain technologies leveraging smart contracts can provide an autonomous, cost-saving and transparent tool to help engage these users in the provision of flexibility services to the grid. The aim of this paper is to design a new market layer for the on-demand provision of flexibility services by using smart contracts fully integrated with existing national-scale electricity markets. We demonstrate how this model can co-exist with the current electricity market architecture in Great Britain (GB), providing a whole-system least-cost solution to solve grid congestion and energy imbalances. Simulations based on a high-fidelity network of GB highlight the potential benefit that the proposed approach could create at the national scale.
Energy trading is currently transitioning from traditional centralized markets to decentralized peer to peer (P2P) solutions. More and more P2P projects are operating with the Blockchain technology, hosting e-auctions for prosumers who are part of microgrids and operating in the same network. This way of energy trading might be ideal for trading types of renewable energy with high predictability but the same does not apply for lower predictability types, such as solar energy. A critical issue of P2P energy trading markets, that operate only in the context of local energy communities, is the availability of resources when every prosumer adapts the same role in the market, thus leading to either large excess or deficit of energy. This paper introduces a blockchain-based semi-decentralized (hybrid) energy trading market that consists of more than one microgrids and each microgrid is composed of prosumers who produce and trade energy with others within their microgrid. Furthermore, inter-microgrid energy trading can be initiated, as well as trading with the main grid, when there are unmet energy requests. In order to ensure safety and security between untrusted parties, transactions happen in a permissioned blockchain network. As an alternative way to trade energy this solution proposes along with the Fungible Tokens, the use of Non-Fungible Tokens (NFT) that enclose amounts of energy to be used when needed. Each microgrid is equipped with an appropriately sized battery, a repository to maintain profits, and is coordinated by an administration manager, who is responsible for transactions happening outside of the microgrid.
With the rapid adoption of renewable energy and smart meters, more distributed energy consumers are becoming capable of generating energy and participating in energy trading. However, it raises great challenges to establish trust among these distributed energy sources. A more transparent and fair energy trading market is required. With its unique advantages in supporting fair and transparent transactions, blockchain is recognized as an effective solution to facilitate distributed energy transactions. However, existing studies often propose blockchain-based energy trading schemes without considering the management of energy generation, consumption, and transmission. In addition, the sensitive nature of the power grid may make the grid operators hesitate to adopt anyone to directly access the energy trading market. Therefore, in this study, we adopt a permission-based blockchain, Hyper-ledger Fabric, to establish a fair and transparent distributed energy trading market, due to its strong access control and efficient consensus mechanism. Furthermore, the proposed blockchain-based energy trading market is integrated with the Packetized Energy Management and Trading Co-Simulation platform (PEMT-CoSim), developed by our prior work, so that a holistic co-simulation platform is established to facilitate further studies by closely coordinating energy trading and management. The demonstration results based on the proposed blockchain-based co-simulation platform are discussed in detail, which validate the effectiveness of the proposed architecture.
David Vangulick, S.J. Escalona Coronel, Damien Ernst
Grid monitoring is the process of collecting data from sensors across a distribution grid and sending it to a central system (SCADA) to identify and diagnose problems, improve reliability, and save energy and money. The increasing complexity of power flows and the need to manage them using active network management (ANM) strategies requires accurate data and strong defences against cyberattacks. A proof-of-concept software called "MonitORES" was developed using Hyperledger Fabric to demonstrate how a distributed ledger technology (DLT) such as blockchain can be used to monitor and control generation units within ANM schemes, with improved resilience against cyberattacks.
The energy use of Bitcoin is fiercely debated among academics, practitioners, and the general public. This debate is often biased and characterized by a lack of understanding. Therefore, I start this paper with a discussion of the fundamentals of Bitcoin, which includes the clarification of widely held misconceptions. Next, I illustrate how Bitcoin is related to energy and describe the underlying incentive mechanism. In the main body of the paper I discuss various components of Bitcoinâs energy use, including the amount, composition, and geographical distribution of the energy, as well as emerging positive and negative effects. These components are then combined into a comprehensive framework that provides a solid foundation for future academic research and presents practitioners with the big picture of how and why Bitcoin requires energy and whether this can be justified from an environmental point of view.
Kimia Honari, Sara Rouhani, Nida E. Falak, Yuan Liu ¡ 8 authors
Blockchain technology and, in particular, smart contracts based on it, offers a new, decentralized mechanism for entering into and fulfilling contracts in diverse markets. Energy markets are no exception, and indeed, the decentralized nature of the blockchain may be particularly important for them as the penetration of residential prosumers offering microgeneration to the grid grows. At this time, however, the literature on smart contracts in energy marketsâand particularly their interaction with the technical infrastructure of the smart gridâis limited and scattered. There is a need to consolidate these studies into a comprehensive understanding of the state-of-the-art in smart contract design for the smart grid. However, no existing reviews focus on smart contracts in energy systems. The scope of our study is the role of smart contracts in energy systems and what limitations they encounter. We conduct a systematic review of this topic, focusing on systems that have been implemented as prototypes. These studies provide key evidence on the scalability of smart contracts for energy systems and their interaction with the technical elements of the smart grid. We selected a pool of 76 papers meeting our criteria, with three others excluded for misinterpreting fundamental aspects of blockchains and smart contracts. After reviewing each paper, we found that this literature falls into four categories: market operations, ancillary services, auditing and monitoring, and cybersecurity. We then identify and examine the cross-cutting concerns of data storage in and interoperability between blockchains. We finally discuss the implications of our findings for future research. In particular, there is likely to be a complex interplay between the data generated and stored via the blockchain versus the data required to meet energy system reliability targets and market obligations for participants.
The rapid adoption of smart grids demands robust security and efficiency measures due to their critical role in delivering electricity and their potential for customer-oriented benefits. This paper presents an innovative framework, named RETINA, which provides a resilient and secure energy trading mechanism within smart grid systems. RETINA tackles the inherent security and infrastructure challenges in smart grids by establishing a trust-based security layer and facilitating energy transactions through blockchain technology. Our proposed solution integrates Public Key Infrastructure (PKI) and the Web of Trust (WoT) concepts, promoting decentralized communication channels and robust key management. We further introduce a smart contract-based energy trading mechanism that factors in trust, distance, and energy type (green or non-green) in cost calculation. The utility and robustness of RETINA have been validated in a virtualized testbed environment with 500 nodes, demonstrating superior performance in terms of scalability and resilience compared to the existing WoT scheme. Furthermore, RETINA successfully enables a secure and efficient energy trading scheme, promoting the use of renewable energy sources. Future enhancements will include application to a realistic smart grid deployment and the integration of additional functionalities. This groundbreaking solution has the potential to revolutionize the smart grid ecosystem, addressing its current limitations and propelling the industry towards a future of advanced and secure energy exchange.
Yixuan Fan, Lei Zhang, Ruiyu Wang, Muhammad Ali Imran
Driven by the development of blockchain infrastructures and the promotion of Web 3, more than 4000 Decentralized Autonomous Organizations (DAOs) have been developed as online organizations jointly owned and managed by their members who work for the same interests. Voting mechanisms as the democratic administration of DAOs without the involvement of central authority, are crucial to both the development of the DAO community and the protection of individual interests. This paper is one of the first analyses of the critical role of voting mechanisms in DAOs' operation. In the absence of systematic studies of voting mechanisms in DAOs, we propose five tiers of decentralization in DAO voting which marks the critical difference between DAO voting and conventional voting. We also define four dimensions to comprehensively evaluate the performance of DAO voting mechanisms, which identify the demands and characteristics of DAO voting and put forward clear design guidelines for voting mechanisms in DAOs. Finally, we take seven typical voting mechanisms as examples and analyze their performance in our proposed evaluation schemes.
The paradigm shift from a coal-based power system to a renewable-energy-based power system brings more challenges to the supply-demand balance of the grid. Distributed energy resources (DERs), which can provide operating reserve to the grid, are regarded as a promising solution to compensate for the power fluctuation of the renewable energy resources. Small-scale DERs can be aggregated as a virtual power plant (VPP), which is eligible to bid in the operating reserve market. Since the DERs usually belong to different entities, it is important to investigate the VPP operation framework that coordinates the DERs in a trusted manner. In this paper, we propose a blockchain-assisted operating reserve framework for VPPs that aggregates various DERs. Considering the heterogeneity of various DERs, we propose a unified reserve capacity evaluation method to facilitate the aggregation of DERs. By considering the mismatch between actual available reserve capacity and the estimated value, the performance of VPP in the operating reserve market is improved. A hardware-based experimental system is developed, and numerical results are presented to demonstrate the effectiveness of the proposed framework.
Muhammad Umer, Saima Sadiq, Reemah Alhebshi, Maha Farouk S. Sabir ¡ 9 authors
For the past few years, the concept of the smart house has gained popularity. The major challenges concerning a smart home include data security, privacy issues, authentication, secure identification, and automated decision-making of Internet of Things (IoT) devices. Currently, existing home automation systems address either of these challenges, however, home automation that also involves automated decision-making systems and systematic features apart from being reliable and safe is an absolute necessity. The current study proposes a deep learning-driven smart home system that integrates a Convolutional neural network (CNN) for automated decision-making such as classifying the device as "ON" and "OFF" based on its utilization at home. Additionally, to provide a decentralized, secure, and reliable mechanism to assure the authentication and identification of the IoT devices we integrated the emerging blockchain technology into this study. The proposed system is fundamentally comprised of a variety of sensors, a 5 V relay circuit, and Raspberry Pi which operates as a server and maintains the database of each device being used. Moreover, an android application is developed which communicates with the Raspberry Pi interface using the Apache server and HTTP web interface. The practicality of the proposed system for home automation is tested and evaluated in the lab and in real-time to ensure its efficacy. The current study also assures that the technology and hardware utilized in the proposed smart house system are inexpensive, widely available, and scalable. Furthermore, the need for a more comprehensive security and privacy model to be incorporated into the design phase of smart homes is highlighted by a discussion of the risks analysis' implications including cyber threats, hardware security, and cyber attacks. The experimental results emphasize the significance of the proposed system and validate its usability in the real world.
Decentralization forms an integral part of democracy, arising from the conduction of elections.Modern democracies rely heavily on elections.However, there is a lack of trust building up due to the cases of discrepancies in the process.The "e-voting" system was developed after the 1960s.It overcame a lot of issues existing in the ballot voting system.In present times the significance of E-Voting has grown drastically.It cuts down the cost of hosting an election and increases the number of participants as they are free to cast their vote from any location, without any ballot boxes, or areas for establishing polling booths.There were still obstacles to overcome and deliver results.Even the most developed democracies, such as India and the United States, have error-prone voting processes.Voter fraud, EVM hacking, and polling station theft are the main issues with the current voting system.Reliability along with security and precision must be considered while performing elections.The blockchain with smart-contracts stands out as a leading candidate for developing more reliable, cost-effective, transparent, and user-friendly electronic voting systems.Undoubtedly, the revolutionary blockchain idea is the technology behind the cryptocurrency Bitcoin and its derivatives.Ethereum and its network are among the greatest because of their dependability and wide acceptance.An electronic voting system must be secure and transparent to avoid double voting and maintain privacy.In this study, we have used Ethereum wallet along with Solidity Programming language for developing a smart contact for Ethereum network that works as E-Voting System.
Buildings can become a significant contributor to an energy systemâs resilience if they are operated in a coordinated manner to exploit their flexibility in multi-carrier energy networks. However, research and innovation activities are focused on single-carrier optimization (i.e., electricity), aiming to achieve Zero Energy Buildings, and miss the significant flexibility that buildings may offer through multi-energy coupling. In this paper, we propose to use blockchain technology and ERC-1155 tokens to digitize the heat and electrical energy flexibility of buildings, transforming them into active flexibility assets within integrated multi-energy grids, allowing them to trade both heat and electricity within community-level marketplaces. The solution increases the level of interoperability and integration of the buildings with community multi-energy grids and brings advantages from a transactive perspective. It permits digitizing multi-carrier energy using the same token and a single transaction to transfer both types of energy, processing transaction batches between the sender and receiver addresses, and holding both fungible and non-fungible tokens in smart contracts to support energy marketsâ financial payments and energy transactionsâ settlement. The results show the potential of our solution to support buildings in trading heat and electricity flexibility in the same market session, increasing their interoperability with energy markets while decreasing the transactional overhead and gas consumption.
In 2022, Thailandâs Demand Response (DR) business model was shifting from the Traditional Utility (TU) model to the Load Aggregator (LA) model in accordance with Thailandâs smart grid master plan. This research studied the current demand response model and mechanism to draw possible gaps in operations. This research deals with the data system owned by the individual load aggregator. The load aggregators collect meter data and evaluate demand adaptations before sending the results to claim compensation on behalf of their customers. This approach lacks transparency and facilitates distortion of the facts. Hence, this research introduces the data execution by smart contracts and data records on the blockchain that enhance transparent data sharing among multiple parties and maintain data integrity. Moreover, the proposed bidding algorithm allows customers to offer an expected price under the maximum incentive payment determined by the avoided costs of running the peaking power plants. Hence, the bidding helps reflect the DR operation costs on the customer side and control the budget for incentive payments. This study emphasized the smart contracts and decentralized application layer, so the public blockchain is a reasonable network for the test. However, implementation in real cases using the public blockchain requires careful considerations, such as network fees, transaction speeds, and the security of smart contract codes.
Tianfeng Chu, Xingchen An, Wuyang Zhang, Yan Lu ¡ 5 authors
Virtual power plants can aggregate distributed energy resources and interruptible loads in a region for coordinated regulation and unified transaction. However, with the diversification of competition in the electricity market, the distributed operation mechanism between multiple virtual power plants (multi-VPPs) has gradually become a research focus. Based on this, this paper proposes a new type of distributed transactions strategy between multi-VPPs, i.e., the transaction matching mechanism. A two-stage transaction model based on the transaction matching is constructed for multi-VPPs to participate in the day-ahead and intraday electricity trading markets. In the first stage, each VPP optimizes its own internal unitsâ output and external interaction power through a cooperative game; in the second stage, it is the transaction matching among multi-VPPs that can match the most suitable counterpart by flexible price setting to increase the benefits of all the VPPs. Considering the efficiency and security of blockchain technology, we choose to complete the transaction matching between multi-VPPs with the support of alliance blockchain technology to improve the speed of system solution.
The complexities associated with modern energy grids, including high penetration levels of renewable energy sources at the end use customers, the proliferation of electric vehicles (EVs), as well as decentralized energy management systems and energy data portals and services, require secure, reliable and cost-effective new platforms to administer such systems in a transparent manner. Blockchain technology can address such challenging complexities efficiently. This paper presents a thorough literature review of all potential blockchain applications in electric energy systems. First, all potential blockchain application possibilities and constraints in electric energy systems have been identified. Then, the implementations of blockchain technology in power systems are divided into various categories, such as demand response (DR), EVs, decentralized energy management, energy trading and distributed renewable energy. A detailed literature analysis is conducted by following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines in a systematic approach using credible and reliable database systems such as IEEE Xplore, ScienceDirect, and Scopus to highlight current advancements in blockchain technology uses in electric energy systems particularly in DR, as well as future potential and existing problems. The paper is divided into three parts. The first part lists the important publications that have delved into the implementation of Blockchain in demand response. Trends of Blockchain applications in other electric energy system areas are detailed in the second section. The final part highlights the evolution and advancement of blockchain-based electric energy systems including favourable attributes of structures and designs, as well as the challenges and future trends.
Liaqat Ali, M. Imran Azim, Jan Peters, Nabin B. Ojha ¡ 10 authors
In this paper, a framework is proposed for integration of peer-to-peer (P2P) trading-based local energy market (LEM) with the blockchain technology. The proposed LEM model allows prosumers and consumers to trade electricity among each other ensuring the presence of the retailer and network utility â who are also essential parts of a P2P network. The P2P contracts settled between various prosumers and consumers are governed by mutually agreed upon smart contracts â which are then written in an Ethereum blockchain to record and store bidding history, P2P transactions, and settlements. An effective formulation is also presented to capture P2P trading quantities and prices among participating prosumers and consumers in a decentralised fashion with an appropriate analysis of financial viability. Finally, a case study is conducted in a real Australian context; in which the engagement of both prosumers and consumers are taken into account, and the performance of the proposed blockchain-enabled LEM is compared with business-as-usual (BAU) to demonstrate the model's superiority.